ERNST & YOUNG administrators have managed to sell the business and the assets to a subsidiary of sportsdirect.com retail, saving 2,100 jobs.
Hunter Kelly, (pictured) John Sumpton and Alan Hudson, from Ernst & Young, were appointed joint administrators of Republic (UK) Ltd and Republic (Retail) Limited on 13 February.
The sale of the business includes 116 stores and the Leeds-based head office.
Kelly said: "In what has been a very challenging time and volatile climate for retailers, it is particularly pleasing to have completed the successful.
"The brand Republic is well-recognised and well-respected by customers for offering quality, high fashion goods and it is a testament to its strength that Sports Direct has made this investment to secure its future and high street presence.
Republic is aimed at the youth market selling brands such as French Connection, Diesel, Levi's and Converse. At the time of collapse it operated 121 stores and employed about 2,500 people.
During the course of the administration five store closures were announced in Scotland and 150 staff at the head office were made redundant - leaving about 50 employees at HQ.
Sign up for Financial Director email alerts
Please enter your email below to receive your profile link
Search by job title, salary, or location - we only list senior financial roles
Financial Director has launched a new flagship one-day conference for senior finance professionals
Join Financial Director and Concur to discuss how the cloud and mobile is transforming the way companies manage employee expenses
One of the UK's most well-respected bosses talks about retail, governance, reputation, tax, his career - and that of CFOs – in a wide-ranging interview...
Send to a friend